• U.S. wholesale inventories fell in March, confirming that inventory investment was a drag on economic growth in the first quarter.
  • The Commerce Department’s Census Bureau said on Wednesday that wholesale inventories fell 0.4% as estimated last month. Stocks at wholesalers rebounded 0.2% in February.
  • Economists polled by Reuters had expected that inventories, a key part of gross domestic product, would be unrevised. Inventories dropped 2.3% on a year-on-year basis in March.